Getting ready for the end of your tax year might appear daunting but don’t dread it, consider embracing it. This is an excellent opportunity to organise your business. This is easier when you have a great relationship with your accountant and you keep good records.
Finance directors of growth businesses, like you, are constantly faced with the challenge of steering the financial ship toward greater prosperity. To help you navigate this dynamic journey, let’s delve into how partnering with the right accountant, can be a game-changer for your role and your business’s success.
UK Chancellor Jeremy Hunt gave his Spring Budget yesterday telling MPs “the OBR is now forecasting that there will be no recession”. Worth noting, no extension was given to the super deduction tax which WILL now end 31 March ’23 and the planned Corporation Tax rate increase IS going ahead from April ’23
Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23rd March 2022 – find out what that means to you and your business here in our HB Accountants Spring Statement 2022 highlights
Continue readingIf you run a business, or are an investor or a trustee, it is important that you are aware of important dates and deadlines. Failure to do so can result in HMRC issuing penalties for late payment. Normally, late filing penalties are applied to all returns due on but filed after the 31 January deadline. This year, like last year, HMRC are waiving late filing penalties for Self-Assessment taxpayers for a month, giving you extra time, if you need it, to complete your 2020/21 tax return and pay any tax due. Self Assessment late payment penalties waived – more information below.
Continue readingCorporation tax is a huge source of revenue for the Government. Collected by the Government from the profits of companies operating in the UK and it is changing. (The profits of unincorporated businesses, sole traders and partnerships are subject to income tax as opposed to corporation tax)
Continue readingThe Chancellor Rishi Sunak presented his third Budget on 27 October 2021. In his speech he set out the plans to “build back better” with ambitions to level up and reduce regional inequality. Find out how the Budget impacts on you and your business below
Continue readingThe Autumn Budget (the second budget of the year) will be delivered this Wednesday, 27th October and comes on the same day as the Spending Review which sets out how government will fund public services for the next three years.
Continue readingWe all send emails daily. Yet, an increasingly large number of emails are a phishing email. Phishing (pronounced “fishing”) emails are sent by criminals who want you to give them your personal details. The email will ask you to fill in a form or to click on a link and download code to your computer – this allows the criminals to simply gather information or more severely, attack your IT system by implanting malware: software that will disrupt or destroy your data or tools or install ransomware, which encrypts data that will only be released once the victim has paid a ransom. Cybercrime is sadly rife.
Continue readingMaking Tax Digital for Income Tax Self-Assessment becomes law on 6 April 2023 and aims to make tax accounting easier for businesses and individuals such as sole traders by legislating the digitalisation of tax data and submission.
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